Fed plan could save millions from foreclosure The federal government is hammering out details of a $50 billion program that would give lenders an incentive to modify home loans and make them affordable. The plan would help an estimated three million people avoid foreclosure, but some say lenders and the government need to do more to help homeowners before they fall behind.6:20 a.m.
MIA director takes on new plan to make museum more contemporary Almost a year after the Minneapolis Institute of Arts hired its new director, Kaywin Feldman, she's filled several open positions, and created some new ones. The hires gave Feldman the opportunity to set a course for the future of the museum, a course aimed at taking it straight into the contemporary art world and into the national limelight.6:50 a.m.
Bush Rolls Out Welcome Mat For Obama
President-elect Barack Obama is back in Chicago putting together his new administration. He and his wife, Michelle, were in Washington, D.C., Monday to get a special look at what will be their home Jan. 20. The two were greeted at the White House by President Bush and first lady Laura Bush. The two men met alone in the Oval Office for about an hour.
Obama's Transition: As Tough As Lincoln's?
President-elect Barack Obama's transition from the Bush administration to his own Cabinet and staff will be the toughest since the Civil War, according to Paul Light of New York University's School of Public Service. "There are enough Republicans in the Senate to place legislative holds on nominations," Light said.
QE2 Sets Sail On Farewell Voyage
Queen Elizabeth 2, one of the world's most famous ocean liners, is on her final voyage. The vessel will become a first-class hotel and entertainment center in Dubai. Captain Ian McNaught talks about what it has been like to work on the ship for more than 20 years.
'American Widow Project' Born From Grief
Taryn Davis was just 21 years old when her husband was killed in Iraq. As a young widow, she felt bereft and very alone. She channeled her grief into the American Widow Project. It began as a documentary and transformed into a national support group for other widows.
Capitol Visitor Center Opens Dec. 2
The long-awaited, $621 million underground Capitol Visitor Center opens to the public in three weeks. It's lush — made out of Pennsylvania sandstone, Tennessee marble and Virginia granite. It's also behind schedule and way over budget. It's the biggest expansion in the Capitol's history.
Chinese Government Fights Recession
Economic data out of China suggest that the world's fastest growing economy is slowing down, just as the rest of the world is counting on it to maintain growth. Inflation in China fell to 4 percent last month, marking a 16-month low. The government responded this week with a nearly $600 billion spending plan to rev up the economy.
Art Auctions Watched For Economic Fallout
Two big contemporary art auctions in New York City this week are being closely watched to see how much the financial crisis will affect the high-end art market. Sarah Thornton, author of the new book Seven Days in the Art World, talks about what's happening financially in the art world.
American Express To Become Commercial Bank
The Federal Reserve approved an application Monday by American Express to become a bank holding company. The change will allow the credit card giant to become a commercial bank. The decision opens the way for American Express to accept deposits and permanently access low-cost financing from the Fed.
Credit Repair Companies Can't Fix Everything
As the economy sours and credit remains tight, consumers with poor credit scores are especially vulnerable to those that promise to clean credit histories, boost credit scores and even eliminate bankruptcy filings. But credit repair firms can't always do what they claim, and dozens of them have been sued.